ProLogis Announces Final Results of Tender For Units in ProLogis European Properties

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DENVER, May 18, 2011 - ProLogis (NYSE: PLD), the leading global provider of distribution
facilities, announced today the results of its mandatory tender offer for
ProLogis European Properties, a Luxembourg closed-ended investment fund
(Euronext/Amsterdam: PEPR, hereafter "PEPR"). Since the start of the Offer
Period on April 22, 2011, ProLogis has received for tender or purchased in
the open market 96,547,538 Ordinary Units carrying voting rights of PEPR and
2,728,161 Perpetual Convertible Preferred Units ("Preferred Units"). When
these tenders have been accepted and the purchases completed, ProLogis will
hold directly or indirectly a total of 170,661,111 Ordinary Units and
9,744,017 Perpetual Convertible Preferred Units ("Preferred Units") of PEPR.
Based on information published by PEPR as to the total number of PEPR
Ordinary and Preferred Units in issue, this holding will represent directly
or indirectly 89.58 percent of PEPR's Ordinary Units corresponding to 89.58
percent of the voting rights attached to all PEPR Ordinary Units and 94.62
percent of PEPR's Preferred Units.

The Acceptance Period ended on May 18, 2011 at 6:00 pm CET. Following the
close of this Offer Period, ProLogis has no obligation to launch a further
tender offer. The settlement of the Offer is expected to take place on May
25, 2011.

About ProLogis

ProLogis is the leading global provider of distribution facilities, with
more than 435 million square feet of industrial space owned and managed (40
million square meters) in markets across North America, Europe and Asia. The
company leases its industrial facilities to more than 3,800 customers,
including manufacturers, retailers, transportation companies, third-party
logistics providers and other enterprises with large-scale distribution
needs. For additional information about the company, go to
www.prologis.com.

About PEPR

ProLogis European Properties, or PEPR, is one of the largest pan-European
owners of high quality distribution and logistics facilities. PEPR was
established in 1999 as a closed-end, real estate investment fund, externally
managed by a subsidiary of ProLogis, a leading global provider of industrial
distribution facilities. In September 2006, ordinary unites in PEPR were
listed on the Luxembourg Stock Exchange and Euronext Amsterdam. As at 31
March 2011, PEPR had a portfolio of 232 buildings, covering 4.9 million
square metres in 11 European countries, with an estimated market value of
euro 2.8 billion. The portfolio has an occupancy level of 93.2% and an
average of 3.4 years to the next lease break or 5.3 years to lease expiry.

media, Krista Shepard, +1-303-567-5907, kshepard at prologis.com, or investor, Melissa Marsden, +1-303-567-5622, mmarsden at prologis.com, both of ProLogis; or George Hudson of The Maitland Consultancy, +44-(0)-207-379-5151, mobile, +44-(0)-759-527-0877, Ghudson at maitland.co.uk, or Wim Moerkerk of Smink, Van der Ploeg & Jongsma Financiele Communicatie, +31-20-647-81-81, mobile, +31-613-80-76-57, wmoerkerk at spj.nl, or Suzanne Dawson of Linden Alschuler & Kaplan, Inc., +1-212-329-1420, mobile, +1-908-242-7162, sdawson at lakpr.com, all for ProLogis